Stock Market & Financial Investment News

Esterline Technologies near low end of historic rangeEsterline Technologies overall option implied volatility of 32 is below its 26-week average of 34 according to Track Data, suggesting decreasing price movement into the expected release of Q3 results on January 31.

Aerospace sector downgraded to Neutral from Attractive at GoldmanGoldman downgraded the Aerospace sector to Neutral based on group outperformance and increased downside risks. The firm believes Boeing (BA) and Airbus are now oversupplying the market after a decade of undersupply and replacement demand required to sustain production may prove difficult to achieve. Goldman said accelerated new aircraft replacements was partially due to fuel economics and lower fuel prices and global growth volatility could substantially change Aerospace dynamics. As part of the sector view change, Goldman downgraded Boeing to Sell from Neutral and Precision Castparts (PCP) to Natural from Buy.